FxWirePro: USD/SEK rebounds from 2-month lows, struggles to break below 8.6000
Monday, November 9, 2020 10:33 AM UTC
- The Swedish Krona retreated from an over 2-month high as the greenback attempted a minor recovery.
- The dollar index rebounded from a 2-month low amid growing expectations that a calmer White House could boost world commerce and that monetary policy will remain easy.
- The greenback against a basket of currencies traded 0.1 percent up at 92.34, having touched a low of 92.13 earlier, its lowest since September 1.
- USD/SEK trades 0.1 percent higher at 8.6320, having hit a low of 8.6018 earlier, its lowest since September 1.
- Immediate resistance is located at 8.6636, any close above could take it above 8.7000.
- On the lower side, support is seen at 8.5840, break below could take it till 8.5630.